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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI China Daily Summary: Thursday, December 12
MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM
MNI BRIEF: SNB Cuts Policy Rate By 50 BP To 0.5%
House Rules Committee To Meet Shortly To Consider Three FY2025 Bills
The House Rules Committee will convene shortly to consider Fiscal Year 2025 spending bills for the Department of Defense, Department of Homeland Security, and Department of State. The committee is expected to discharge the bills to the floor for a vote this week, where they will likely pass on party lines.
- House Republicans have chosen to sidestep a spending agreement cut by President Biden and former House Speaker Kevin McCarthy in 2023, instead writing up bills with significant cuts to nondefense spending.
- The White House issuedstatements of administration policy yesterday, pledging that President Biden would veto all three bills if they were to somehow make it to his desk.
- The Hill notes that, "More than 230 amendments were filed for the Homeland Security bill, several of which focus on the border; upward of 210 amendments were put forth for the State/Foreign Operations measure, with some focusing on Ukraine; and around 400 amendments were proposed for the Pentagon legislation."
- The primary takeaway from the appropriations process so far is that House Republicans appear set to continue the combative approach to spending which characterised the FY2024 process. The current track will raise the risk of a government shutdown at some point in the lame duck period of Congress, when the Senate and House have to negotiate compromise bills.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.